Adedapo Adesanya
By Adedapo Adesanya
The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange dropped N1.76 billion or 0.33 per cent on Thursday to N532.22 billion from N533.98 billion it previously closed.
The decline was influenced by the poor performance in the equities of FrieslandCampina WAMCO Nigeria Plc, one of the market’s bellwethers. The company’s stocks dropped N1.81 or 1.31 per cent to close at N138.19 per unit compared with the previous N140 per unit.
The decline weakened the NASD Unlisted Security Index (NSI) by 0.33 per cent or 2.4 points to close at 724.53 points as against 726.93 points recorded at the previous session.
During the trading session, the volume of trades on Thursday equally slid by 94.4 per cent as a total of 41,240 units of shares were traded compared with 732,338 units recorded at the preceding session.
In the same, the trading value reduced by 95.8 per cent as securities worth N3.2 million were recorded yesterday compared with the N77.1 million achieved at the previous session.
However, the number of deals recorded at the trading day increased by 120.00 per cent as a total of 11 deals were executed by market participants.
These deals were done on two stocks belonging to the day’s decliner, FrieslandCampina WAMCO Nigeria Plc (seven deals) and Central Securities Clearing Systems (CSCS) Plc (four deals).
ARM Life Plc closed the session as the company with the highest volume of traded shares (year-to-date) with 7.4 million units of its shares worth N4.6 billion. CSCS Plc was in second place with 203 million units worth N2.7 billion, while Food Concept Plc held the third position with 128.1 million units of its shares worth N90.2 million.
ARM Life Plc was also the company with the highest number of stocks traded by value (year-to-date) with 7.4 billion units of its shares worth N4.6 billion, while Niger Delta Exploration and Production (NDEP) Plc followed for trading 10.4 million units for N3.2 billion, with CSCS Plc in third place after trading 203 million units of its securities valued at N2.7 billion.
